According to the experts at Control Risks, Cyber Risk is a top 5 risk for 20231 , and deservedly so. The ongoing operations anywhere and digital transformation shifts have exposed security weaknesses inherent in a dramatically increased attack surface and fully “castle wall-less” work environment in today’s modern enterprise. Identity has truly become the new perimeter, which is confirmed in survey after survey: in the past year, 84% of organizations have experienced an identity-related breach, with a whopping 96% believing that these breaches could have been prevented or minimized by implementing identity-focused security outcomes2.
Despite the security risks, organizations will continue to pursue digital and cloud transformation efforts due to the benefits of dramatically increased corporate agility and increased worker productivity. This shift, however, will lead to a continued explosion in both human and machine identities, along with exponentially more access requests, increasing an organization’s security risk even further. And yet, according to our recent Horizons of identity security report, a staggering 74% of companies still have immature identity programs, having not moved beyond fragmented technologies and manual processes for even the simplest of identity-related tasks
